As per the latest report by IMARC Group, titled “Laptop Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global laptop battery market exhibited moderate growth during 2015-2020. Laptop batteries are hardware component that supply power to the laptop, enabling it to work without a power cord for several hours. They consist of lithium-ion batteries and offer a varying service life depending on the laptop model and workload. Laptop batteries generate power when ions move from the negatively charged anode to the positively charged cathode, releasing energy, which the laptops can utilize for the proper functionality of the device. These batteries are rechargeable and capable of powering the appliance for several hours.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Laptop Battery Market Trends:
The global laptop battery market is primarily driven by the growing demand for cross-functional devices. With the rapid digitization and rising adoption of work from home option due to the onset of the coronavirus disease (COVID-19), laptops are extensively used across the corporate and education sector for real-time communications and collaborative workspaces. This has escalated the requirement of laptop batteries with high-performance capabilities. Besides this, the emergence of new laptop models has prompted manufacturers to develop batteries that can provide 24 hours of continuous operation. For instance, the HP EliteBook 6930p model offers an ultra-capacity battery. Manufacturers are also introducing smart batteries that can internally measure voltage and current. Furthermore, research and development (R&D) activities, such as the integration of nanotechnology for improving the capacity and the number of recharge cycles, are further driving the market. On account of these factors, the market value is expected to grow at a CAGR of 5.5% during the forecast period (2021-2026).
- Based on the battery type, the market has been segmented into primary and secondary batteries.
- On the basis of the number of cells, the market has been classified into 3, 4, 6, 8, 9, and 12 cell batteries.
- The market has been categorized based on the sales into OEMs and aftermarket. Currently, OEMs dominate the market, holding the largest share.
- On the basis of the distribution channel, the market has been segregated into retail and online stores. Among these, retail stores represent the most preferred distribution channel.
- Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) exhibits a clear dominance in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Amperex Technology Co. Ltd., Amstron Corporation, Battery Technology Inc., Fujitsu Ltd., Hewlett-Packard (HP) Company, LG Chem Ltd., Shenzhen LikkPower Electronics Co., Ltd, Panasonic Corporation, Samsung SDI Co. Ltd., Sony Corporation, and Toshiba Corporation.
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